By Admiral Markets
Source: Admiral Markets MT5 with MT5SE Add-on
The EUR/USD has been contained in a consolidation triangle and we can see that the price is close to the vortex now. However, a three touch trend line has been spotted at resistance and as long as the EUR/USD is below 1.1687, there is a chance for a drop towards 1.1644. Below 1.1644 targets are 1.1629 and 1.1605. Only above 1.1687, the pair should be bullish eventually reaching 1.1711 and 1.1735.
W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
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D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.
Article by Admiral Markets
Source: EUR/USD 3 Touch Trend Restricting Further Gains
Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.
